From Industrial- to Digital-Age-Based Strategies

Abstract

In the next two chapters, we describe how the process of strategy setting is evolving for the digital age. This chapter considers of what is meant by strategy, the criticality of understanding the longer-term “sense of purpose,” understanding the “function,” that the organization delivers to customers, business model innovation (and why disruptive innovation is something of a myth), and the importance of bringing stakeholders (most importantly customers) into the strategy formulation process. The next chapter looks at setting shorter-term strategic destinations; including shaping quantified short- and longer-term vision and identifying the value gap (present and desired states) (Fig. 2.1).